Gold prices in India have maintained their upward trend this week, with 24-carat gold rising by ₹880 per 10 grams in just seven days. In Delhi, the price has reached ₹99,860 per 10 grams, while 22-carat gold has increased by ₹800 in the same period. Market analysts, including ICICI Global Markets, predict that gold will continue its bullish run in the second half of 2024 (July-December), potentially crossing ₹1,00,000 per 10 grams by year-end.
Latest Gold Rates in Top Indian Cities (as of July 2024)
Delhi:
24K Gold: ₹99,860/10g
22K Gold: ₹91,550/10g
Mumbai, Chennai & Kolkata:
24K Gold: ₹99,710/10g
22K Gold: ₹91,400/10g
Jaipur, Lucknow & Chandigarh:
24K Gold: ₹99,860/10g
22K Gold: ₹91,550/10g
Hyderabad:
24K Gold: ₹99,710/10g
22K Gold: ₹91,400/10g
Ahmedabad & Bhopal:
24K Gold: ₹99,760/10g
22K Gold: ₹91,450/10g
Silver Prices Also on the Rise
Like gold, silver has seen a sharp weekly increase, climbing ₹5,000 per kg. As of July 13, 2024, silver is trading at ₹1,15,000 per kg. In Indore’s Sarafa market, prices surged by ₹900 on July 12, reaching ₹1,01,600 per kg.
Market Outlook: Will Gold Hit ₹1 Lakh Soon?
Experts suggest that global economic uncertainties, inflation concerns, and strong demand are driving gold prices upward. If the trend continues, 24K gold may breach the ₹1 lakh mark in 2024, making it a crucial period for investors.
Fact Check:
Gold rates vary slightly across cities due to local taxes and making charges.
ICICI’s bullish forecast aligns with global trends favoring safe-haven assets.
Stay updated with the latest gold and silver prices before making any investment decisions!
(Note: All prices are subject to market fluctuations. Check with local jewellers for real-time rates.)